What Is a Trustee?

A trustee is the person or institution appointed to manage a trust. A trust is a legal arrangement through which a trustee holds legal title to property for another person, called a “beneficiary.” The trust document will name the trustee.

Being a trustee is a big responsibility. Trustees must act in the best interests of the trust beneficiaries at all times. A trustee’s duties include locating and protecting trust assets, investing assets prudently, distributing assets to beneficiaries, keeping track of income and expenditures, and filing taxes.